Kinross Gold Co. (NYSE:KGC) Short Interest Update

Kinross Gold Co. (NYSE:KGC) (TSE:K) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 7,950,000 shares, a decrease of 31.2% from the November 15th total of 11,560,000 shares. Based on an average trading volume of 16,490,000 shares, the short-interest ratio is currently 0.5 days. Approximately 0.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Kinross Gold

A number of hedge funds have recently made changes to their positions in KGC. Atlas Capital Advisors LLC bought a new position in Kinross Gold in the 2nd quarter valued at about $40,000. Fifth Third Bancorp lifted its stake in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares during the period. Corundum Trust Company INC bought a new position in shares of Kinross Gold in the third quarter valued at approximately $94,000. OneDigital Investment Advisors LLC acquired a new position in shares of Kinross Gold during the third quarter valued at approximately $94,000. Finally, EP Wealth Advisors LLC bought a new stake in Kinross Gold during the third quarter worth approximately $95,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE:KGC traded down $0.29 during midday trading on Friday, reaching $9.77. 15,684,307 shares of the company traded hands, compared to its average volume of 15,492,234. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.47 and a beta of 1.21. The company has a fifty day moving average price of $9.99 and a 200 day moving average price of $9.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold has a twelve month low of $4.75 and a twelve month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts expect that Kinross Gold will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold’s payout ratio is currently 19.67%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average price target of $11.13.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.